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Rosie Winterton replaces Mike O’Brien as pensions minister

Pensions minister Mike O’Brien has been given an energy brief and is to be replaced at the Department for Work and Pensions by former transport minister Rosie Winterton.

The news comes as part of a wide-ranging Cabinet reshuffle by the Prime Minister Gordon Brown.

Kitty Ussher, currently economic secretary to the Treasury, is also moving to the DWP to become a parliamentary undersecretary.

Ian Pearson takes up the position of economic secretary in the Treasury, while ex-Gartmore chief executive Paul Myners takes up the position of financial services secretary.

Stephen Timms leaves his position as minister of state for employment and welfare reform at the DWP to become financial secretary to the Treasury.

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Short story

What challenging and interesting times we live in. Many of my IFA clients of old who have time to follow the rather excitable press ask me in rather dramatic terms if we are “approaching the end of the world”. I try not to get on my soap box and point out the more pertinent issues that may seal the world’s demise such as climate change and lack of sustainability. But for the purposes of this analysis, let’s stick to financial matters.

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